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Recursion Pharmaceuticals, Inc., a clinical-stage biotechnology company, engages in the decoding biology and chemistry by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery in the United States and the United Kingdom. The company develops REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-617, which is in Phase 1/2 clinical trial to treat advanced solid tumors; REC-1245, which is in Phase 1/2 clinical trial to treat biomarker-enriched solid tumors and lymphoma; REC-3565 that is in Phase 1/2 for the treatment of relapsed or refractory B-cell malignancies; and REC-4539, a reversible, CNS penetrant, orally bioavailable, and potential best-in-class inhibitor of LSD1 for the treatment of solid tumors and hematology oncology. Its preclinical stage product includes REC-7735 for the treatment of HR+ breast cancer; and REC-102 for the treatment of hypophosphatasia. The company has collaboration and agreement with Roche & Genentech; Sanofi; Bayer AG; Tempus; and Takeda Pharmaceutical Company Limited. Recursion Pharmaceuticals, Inc. was incorporated in 2013 and is headquartered in Salt Lake City, Utah.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $74M | $-559M | $-645M | $-380M | -57.0% | 27.0% | 39.1% |
| 2024 | $58M | $-427M | $-464M | $-376M | -44.8% | 33.3% | 41.3% |
| 2023 | $44M | $-308M | $-328M | $-300M | -70.8% | 10.6% | 37.0% |
| 2022 | $40M | $-228M | $-239M | $-121M | -49.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 39.68 | 43.88 | 58.49 | 74.26 |
| Operating Revenue | - | 39.68 | 43.88 | 58.49 | 74.26 |
| Cost Of Revenue | - | 48.28 | 42.59 | 45.24 | 70.95 |
| Gross Profit | - | -8.59 | 1.29 | 13.25 | 3.30 |
| Operating Expense | - | 237.13 | 351.35 | 492.25 | 651.43 |
| Research And Development | - | 155.70 | 241.23 | 314.42 | 475.27 |
| Selling General And Administration | - | 81.60 | 110.82 | 178.18 | 176.59 |
| Total Expenses | - | 285.41 | 393.94 | 537.49 | 722.39 |
| Operating Income | - | -245.73 | -350.06 | -479 | -648.13 |
| Total Operating Income As Reported | - | -245.73 | -350.06 | -479 | -648.13 |
| EBITDA | - | -227.66 | -307.63 | -426.72 | -559.38 |
| Normalized EBITDA | - | -227.66 | -307.63 | -426.72 | -559.38 |
| EBIT | - | -239.42 | -332.03 | -463.22 | -643.08 |
| Interest Income | - | 6.25 | 19.12 | 15.76 | 22.79 |
| Interest Expense | - | 0.06 | 0.10 | 1.57 | 1.81 |
| Net Interest Income | - | 6.20 | 19.02 | 14.19 | 20.98 |
| Other Non Operating Income Expenses | - | 0.05 | -1.09 | 0.03 | -17.74 |
| Other Income Expense | - | 0.05 | -1.09 | 0.03 | -17.74 |
| Interest Income Non Operating | - | 6.25 | 19.12 | 15.76 | 22.79 |
| Interest Expense Non Operating | - | 0.06 | 0.10 | 1.57 | 1.81 |
| Net Non Operating Interest Income Expense | - | 6.20 | 19.02 | 14.19 | 20.98 |
| Pretax Income | - | -239.48 | -332.13 | -464.79 | -644.90 |
| Tax Provision | - | 0 | -4.06 | -1.13 | -0.14 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Net Income From Continuing And Discontinued Operation | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Net Income From Continuing Operation Net Minority Interest | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Net Income | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Net Income Common Stockholders | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Net Income Including Noncontrolling Interests | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Normalized Income | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Diluted NI Availto Com Stockholders | - | -239.48 | -328.07 | -463.66 | -644.76 |
| Basic Average Shares | - | 175.54 | 207.85 | 274.21 | 447.45 |
| Diluted Average Shares | - | 175.54 | 207.85 | 274.21 | 447.45 |
| Reconciled Depreciation | - | 11.76 | 24.40 | 36.49 | 83.70 |
| Reconciled Cost Of Revenue | - | 48.28 | 42.59 | 45.24 | 70.95 |
| Total Unusual Items | -0.83 | 0 | 0 | - | - |
| Total Unusual Items Excluding Goodwill | -0.83 | 0 | 0 | - | - |
| Special Income Charges | -0.83 | 0 | 0 | - | - |
| Other Special Charges | 0.83 | - | - | - | - |
| General And Administrative Expense | - | 81.60 | 110.82 | 178.18 | 176.59 |
| Other Gand A | - | 81.60 | 110.82 | 178.18 | 176.59 |
| Other Operating Expenses | - | -0.16 | -0.70 | -0.35 | -0.42 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Recursion Pharmaceuticals, Inc.this co. | RXRX | $2.0B | -3.13 | 1.78 | -57.0% | -2.42 |
| Aurinia Pharmaceuticals Inc. | AUPH | $2.1B | 7.33 | 3.62 | 49.4% | 15.22 |
| Clover Health Investments, Corp. | CLOV | $2.1B | -24.56 | 6.81 | -27.7% | - |
| NovoCure Limited | NVCR | $2.1B | - | 6.12 | -40.0% | - |
| Intellia Therapeutics, Inc. | NTLA |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $2.1B |
| - |
| 3.07 |
| -61.5% |
| - |
| Progyny, Inc. | PGNY | $2.0B | 34.11 | 3.87 | 11.3% | 21.18 |
| Omnicell, Inc. | OMCL | $2.0B | 967.26 | 1.61 | 0.2% | 21.53 |
| Trevi Therapeutics, Inc. | TRVI | $2.0B | -46.25 | 10.79 | -23.3% | -45.92 |
| Iovance Biotherapeutics, Inc. | IOVA | $2.0B | -5.00 | 2.80 | -56.0% | -5.25 |
| Peer Median | - | 1.16 | 3.74 | -25.5% | 15.22 | |